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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: GOLDFINGER who wrote (4957)	12/30/1997 5:47:00 PM
From: goldsnow	Read Replies (1) \| Respond to of 116759

Gold steadies after Monday fall, could head lower 06:13 a.m. Dec 30, 1997 Eastern LONDON, Dec 30 (Reuters) - Gold steadied on Tuesday after Monday's four-dollar fall, hovering above $290 an ounce as analysts and dealers offered scant hope it would hold that level for long. Gold fixed at $290.90 an ounce in the morning, down from Monday afternoon's $293.05, as the spot held steady during early European trade. With spot gold last below Monday's London close of $291.80/$292.30, analysts saw it going lower. ''They already tried it in December when it came very low. I think $280 was the target, everybody was speaking about it and speculators are really looking to get it,'' said Michael Wagner, chief trader in Frankfurt for brokers Brandeis. Wagner saw no imminent change in the picture for gold mining output, saying the sector would not act as any sort of saviour for gold while current production continued. ''The supply side does not influence the market at all for the moment. There are a few announcements (of mine closures) but we have also seen some mergers so we may see new mining companies, with lower costs, producing nearly the same amount of gold as the old ones,'' he said. ''I could see the supply dropping in two or three months time,'' he said. Wagner added that economic problems in Southeast Asia had damaged demand there and foresaw net exports from some countries if dishoarding continued. Part of the reason for gold's faltering efforts came from continued dollar strength against the Australian unit, the latter still buffeted by the knock-on effects of Asian financial troubles on commodity prices and regional sentiment. The Australian dollar was last at A$0.6535/40 against the U.S. currency, still within the $0.6490/6605 range held for the last fortnight and waiting for pointers. If holed on the downside, it could challenge the 10-year low of $0.6410/20 of October 1993 and possibly the deep 60 cent trough touched in 1987, a prospect local miners would grab with relief given current U.S.-denominated gold prices. That effect was evident in Hong Kong, where local dealers saw gold's rally to nearly $297.00 on Christmas Eve snuffed out by renewed producer selling. ''We hear that producers are selling the market at $295-$297,'' said one Hong Kong trader. As for the rest of the precious metal complex, only palladium moved significantly from its Monday close in early trade, putting on $7.00 to reach $204.00/$206.00 an ounce. ((Patrick Chalmers, London Newsroom +44 171 542 8057. london.commodities.desk+reuters.com)) Copyright 1997 Reuters Limited. All rights reserved.

To: GOLDFINGER who wrote (4957)	7/5/2001 7:36:32 AM
From: long-gone	Read Replies (1) \| Respond to of 116759

Subscribe to ENews newsletters Belgium to lead European Union through currency conversion BRUSSELS, Belgium (July 1, 2001 07:13 p.m. EDT ) - Belgium took over the rotating presidency of the European Union on Sunday, and is expected to shepherd the EU through its launch of a "drastic monetary revolution" and continued talks with aspiring members. New Year's Day will mark Europe's greatest money swap when 300 million people in 12 countries start paying with crisp new euro bills and shiny new euro coins. Belgian Prime Minister Guy Verhofstadt has called the move "the most drastic monetary revolution in modern financial history." The 48-year-old Flemish liberal is also expected to give strong support to the European Union's plan to take on new members in eastern and central Europe - a move that he describes as an historic step to end East-West divisions. In December, Verhofstadt will host a summit in the Brussels suburb of Laeken, where the 15 EU leaders have set themselves the lofty aim of pointing the future direction of their Union as it expands to take in Poland, Hungary and up to 10 other potential new members over the next few years. After a summit last month in Goteborg, Sweden, set a 2004 target date for bringing in the first candidates, it's up to Belgium to ensure the pace of negotiations does not slacken as the EU enters the most sensitive areas, such as sharing out EU farm subsidies and limiting the free movement of workers. Verhofstadt will also be expected to help persuade Irish voters to reverse the result of their July 7 referendum, which rejected the EU's blueprint for expansion. world News Copyright © 2001 Interest!ALERT interestalert.com